Kwality Q1 net up 4 per cent at Rs 35.6 crore

Net sales rose by 6.4 per cent to Rs 1,411.28 crore during the quarter from Rs 1,326.22 crore in the corresponding quarter of the last fiscal.NEW DELHI: Dairy firm Kwality Ltd today reported a 4 per cent rise in its net profit at Rs 35.60 crore for the first quarter ended June 30.

Its net profit stood at Rs 34.10 crore in the year-ago period, the Delhi-based firm said in a statement.

Net sales rose by 6.4 per cent to Rs 1,411.28 crore during the quarter from Rs 1,326.22 crore in the corresponding quarter of the last fiscal.

Commenting on the result, Kwality CMD Sanjay Dhingra said the company has started this fiscal with broad based growth.

"The company has focused on fresh product sales and export during the period," he said adding that it is reducing focus on bulk milk sale.

The export sale during the period was at Rs 290 crore and fresh sale were up by almost 17 per cent.

"We will intensify our efforts in expanding our network in the retail segment with improved market presence and capture increased revenue market share in new territories," Kwality said in a statement.

The company has six milk processing plants in Haryana, Uttar Pradesh and Rajasthan with a capacity of 33 lakh litres per day.